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Savings

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Five days to go...Navigating Change Conference Early-bird Closes on Friday 30 June

26 Jun 17 - Financial Services Council and Workplace Savings NZ are delighted to announce the launch of the updated conference program Navigating Change Conference 7-8 September 2017 Auckland Hilton Hotel

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Get Sorted: KiwiSaver deadline is end of June

15 Jun 17 - New Zealand Herald: Deadlines can bring out our best work. Why is that? There's something about being under the pump that makes us rise to the occasion and simply get it done. We just find a way somehow. This time of year - before June runs out - is the deadline to get the annual $521 from the government into our KiwiSaver accounts. It would be great if we could all look at our situations - and consider those around us who may be missing out on the practically free money. If they're over 18, we might even help them top up their accounts so they get the most they can.

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Financial Services Council Awards 2017 open now

15 Jun 17 - Financial Services Council: Celebrating success in the financial services industry, we're excited to bring you the industry awards. This is a great opportunity to celebrate and showcase excellence and give us all a chance to celebrate success, learn from our peers and find ways to deliver great consumer outcomes within the financial services industry.

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Financial Services Council June 2017 newsletter

15 Jun 17 - The latest Financial Services Council June 2017 newsletter. 

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Book Now! Early bird registration for Navigating Change conference closes 30 June 2017

9 Jun 17 - Early bird registrations close on 30 June 2017 for the inaugural Financial Services Council and Workplace Savings NZ national conference. Navigating Change  7– 8 September 2017 Hilton Hotel, Auckland

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FMA announces methodology for KiwiSaver fee disclosure

9 Jun 17 - Financial Markets Authority: The Government has recently introduced regulations requiring KiwiSaver providers to disclose fees in dollars in members’ annual statements. The Financial Markets Authority (FMA) has been consulting on a methodology that will assist KiwiSaver providers to understand the requirements of those regulations.

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AIA Joins the Financial Services Council

9 Jun 17 - FSC Media Release: The Financial Services Council announced today that AIA has joined the association, bringing the total number of members to 16 members and 14 Associate members. Financial Services Council Chief Executive Richard Klipin said, ‘We are pleased to welcome back AIA to the Financial Services Council. The Industry is going through rapid change and AIA is an important part of the New Zealand Life insurance landscape.’

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What Budget 2017 spending promises look like when adjusted for inflation and population growth; Defence, education, health, welfare and law & order to fall; Super costs to rise through 2021

26 May 17 - interest.co.nz: For all that talk of winners in this year's Budget, a deep dive into the numbers coupled with fundamental economic analysis paints a different picture. Those wanting to dig a bit further into the Budget numbers, here are some tools to see how 2017’s numbers compared to previous years, and what levels of spending we’re set to see over the next four.

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Budget 2017: More incentives for middle-class taxpayers needed

26 May 17 - NZ Herald: With the Government in a position of surplus it would be good to see some incentives introduced in this year's Budget, beyond the social investment being targeted in the announcements made to date, says local financial adviser Nick Stewart.

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Get Sorted: Why KiwiSaver balances go up... and down

17 May 17 - New Zealand Herald: Quick question: what's the difference between a savings account and a KiwiSaver account? Short answer: when you put money in, the first always goes up, but the other goes up and down. That's no small thing. ​​​​​​​

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KiwiSaver hits $40b, but balances stay low

17 May 17 - New Zealand Herald: Strong investment growth has boosted the value of KiwiSaver to over $40 billion but individual balances remain low for many despite the scheme running for nearly 10 years. Figures from Australian research firm Strategic Insight show total KiwiSaver funds hit $40.651 billion at the end of March, up from $38.416b as of December 31.

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FMA: KiwiSaver trial to target decision-making a decade out from retirement

11 May 17 - Financial Markets Authority: The FMA is working with ANZ to see if behavioural insights can prompt more ANZ KiwiSaver members to get retirement advice, or use retirement-planning tools when they hit 56 years old.

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Launch of Navigating Change national conference

4 May 17 - Financial Services Council (FSC) and Workplace Savings NZ (WSNZ) are proud to announce the launch of the inaugural national conference.

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BT/Westpac funds clean-up sees off Vanguard…

1 May 17 - InvestmentnewsNZ: Westpac KiwiSaver has dropped Vanguard as global equities manager for its default fund in the first phase of an across-the-board ethical-cleansing at its investment management division.

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Growing divide in risk profile hits KiwiSaver returns, MJW survey

24 Apr 17 - InvestmentNewsNZ: Divergent asset allocations have come to the fore again in the KiwiSaver market with Milford Asset Management producing stand-out results – at both ends of the scale, the latest Melville Jessup Weaver (MJW) quarterly investment survey shows.

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Australian banks cut sales targets, NZ expected to follow

24 Apr 17 - Stuff.co.nz: The Australian parents of New Zealand's big four banks are pledging to overhaul the bonus structure paid to their staff.

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Why not change the tax on retirement savings?

21 Apr 17 - Otago University research:  Instead of taxing housing harder, why not change the tax on retirement savings?  This paper provides an analysis of how the New Zealand tax system may be affecting residential property markets. 

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NZ Super Fund performance report for March 2017

21 Apr 17 - The New Zealand Superannuation Fund has released its performance and portfolio report for March 2017.

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Statistics New Zealand private super research released

21 Apr 17 - This article by Statistics New Zealand looks at private superannuation, one of the ways wealth is distributed in New Zealand.

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David Simmers: Less super for the rich?

19 Apr 17 - Stuff.co.nz: OPINION: The current debate about superannuation seems to focus solely on the age of eligibility. This is disappointing; the equally important question of how to limit the amount paid to those who do not need state assistance is largely ignored.

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America has a retirement problem, not a saving problem

19 Apr 17 - The Economist: HOUSE Resolution 67, which Donald Trump signed last week, rolls back a rule that the Labor Department finalised late last year, which would have made it easier for cities and counties to run retirement savings plans for citizens who couldn’t get them through work. 

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A Scary Percentage of Retirees Blow Through Their Workplace Savings When They Take a Lump Sum

17 Apr 17 - Yahoo! Finance: A lump sum payment from a pension or 401(k) may sound appealing, but one in five Americans deplete the money in 5.5 years, a study shows.

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Aussie retirees dip into super

17 Apr 17 - News.com.au: A growing number of retirees are dipping into their super savings to pay off debt or fund holidays.

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Are investors better off when investing with “superstar” fund managers?

13 Apr 17 - Otago University: You may think that when a fund manager wins a performance award, the investment fund they manage would fare even better, but University of Otago Business School accountancy and finance researcher Dr Eric Tan has found this isn’t necessarily the case.

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FMA launches consultation on KiwiSaver fees methodology

12 Apr 17 - The FMA is consulting on how those fees should be calculated and disclosed. Deadline for submissions is 5 May 2017.

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Anglican scheme looks for ethical uplift

10 Apr 17 - InvestmentNewsNZ: The rising demand for socially responsible investment (SRI) options has sparked renewed interest in niche ‘ethical’ funds, according to Anglican Pension Board general manager, Mark Wilcox.

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The mid-50s savings dash

10 Apr 17 - Stuff.co.nz: The mid to late-50s savings sprint is our chosen way to get a retirement nest egg. Survey data released by the Financial Markets Authority on Wednesday revealed confidence of a decent retirement was highest among people who sought retirement savings advice and information ten or more years before retirement.

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ANZ keen to keep KiwiSaver business

10 Apr 17 - Interest.co.nz: When the ANZ Banking Group gets around to "considering" the future of its New Zealand wealth unit, one thing it won't be doing is selling its KiwiSaver business, CEO Shayne Elliott says.

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John Mauldin takes a look at some data on retirement savings

7 Apr 17 - Interest.co.nz: John Mauldin takes a look at some data on retirement savings – or lack thereof. “The trouble with retirement is you never get a day off.”– Abe Lemons.

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ASB steps up KiwiSaver advice

7 Apr 17 - NZ Herald: ASB says a change in the way the regulator views personalised financial advice has opened the door for it to provide more KiwiSaver advice.

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Cullen concerned over perpetual saving 'holidays'

7 Apr 17 - Stuff.co.nz: Cullen, who as Labour finance minister launched KiwiSaver in 2007, now calls the holiday rule a "kink" in the design of KiwiSaver.

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FMA's Colmar Brunton research

5 Apr 17 - FMA: The FMA commissioned Colmar Brunton to survey New Zealanders aged between 60 and 74 years, to find out their experiences of retirement and how information or advice has helped them manage their retirement savings. 

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Economist Bill Rosenberg runs the ruler over NZ Super cost predictions

5 Apr 17 - Interest.co.nz: Economist Bill Rosenberg runs the ruler over NZ Super cost predictions, and argues it's not as scary as we've been told; Calls for a proper debate on population policy.

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Anger at Superlife's KiwiSaver $100 'transfer' fee

31 Mar 17 - Stuff.co.nz: Sam Arora is taking a stand over his KiwiSaver provider's decision to charge him $100 to leave. Arora has his money invested with KiwiSaver provider SuperLife, but is considering shifting to rival provider Simplicity.

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Growing KiwiSaver balances mean people can't put off writing a Will

29 Mar 17 - Stuff.co.nz: Growing KiwiSaver balances could spell trouble for New Zealanders who do not have a will.It is estimated that more than half of all New Zealanders over the age of 18 have not yet drafted one.

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Many Kiwis have no idea how much income they need to retire

29 Mar 17 - Stuff.co.nz: KiwiSaver provider Kiwi Wealth found something odd when developing online tools to help people work out how much to save to get the retirement they want.

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Four KiwiSaver schemes yet to ditch weapons investments

27 Mar 17 - Radio New Zealand: Some KiwiSaver funds are still investing in banned weapons despite making promises to get rid of the holdings.

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Govt tells KiwiSaver providers to act quickly on weapons' investments

24 Mar 17 - NZ Herald: The government won't put a deadline on when it expects KiwiSaver providers to exit investments in banned weapons' makers instead insisting they should act as "quickly as possible."

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Kiwisaver: Some frequently asked questions

22 Mar 17 - NZ Herald:  This is the third and final instalment in a series of articles looking at the important assumptions and decisions one needs to make when forecasting what nest-egg one might achieve with a long-term investment plan using a KiwiSaver scheme.

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KiwiSaver transfer lags a concern

22 Mar 17 - Goodreturns: There are calls to streamline the process of transfers between KiwiSaver schemes, to reduce the burden on providers and members.Binu Paul, founder of SavvyKiwi, said there were problems with the current situation.

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Generate closes in on $400m, hires portfolio manager

20 Mar 17 - InvestmentNewsNZ: Auckland-headquartered boutique KiwiSaver scheme, Generate, has upsized its investment team with the appointment of Edward Glennie as senior portfolio manager.

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KiwiSaver growth up despite investment loss

20 Mar 17 - InvestmentNewsNZ: KiwiSaver funds under management (FUM) broke through the $38 billion level in the December quarter, fueled entirely by member contributions, according to the latest data from Australian research house Strategic Insight (SI).

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Brian Fallow probes National, Labour & NZ First's stances on superannuation

20 Mar 17 - Interest.co.nz: Brian Fallow probes National, Labour & NZ First's stances on superannuation and argues they are too relaxed about the snowballing costs. 

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House prices and household budgets

17 Mar 17 - Interest.co.nz: House prices may be at scary levels, but household budgets need to afford the rent, saving for a deposit, or a mortgage payment. And that is often a different story.

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Providers go on KiwiSaver guidance green light

13 Mar 17 - InvestmentNewsNZ: Several providers have already relaxed constraints on staff for giving KiwiSaver advice following the release of the regulator’s new guidance note last week, according to Liam Mason, Financial Market Authority (FMA) director regulation.

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KiwiSaver fees: You don't get what you pay for

13 Mar 17 - Stuff.co.nz: KiwiSaver members are being told to forget "you get what you pay for" - higher-fund fees do not deliver better returns. Research organisation Morningstar this month gave ASB its KiwiSaver prize in the Fund Manager of the Year awards.

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FMA criticised for compromising quality

10 Mar 17 - Interest.co.nz: The Financial Markets Authority (FMA) is being accused of bowing to banks’ interests as it attempts to give more people access to KiwiSaver advice.

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A guide to NZ Superannuation changes

8 Mar 17 - Stuff.co.nz: Superannuation has been reset. Prime Minister Bill English has announced that the age for state superannuation will rise up to 67 in gradual steps starting in 20 years time

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Household wealth is shrinking

8 Mar 17 - Interest.co.nz: Kiwis' debt continues to dwarf household disposable income while household wealth is shrinking as a percentage of household income. 

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Bill English on generational comparison

8 Mar 17 - Interest.co.nz: Comparing circumstances faced by different generations is unhelpful during the current national superannuation debate, Prime Minister Bill English says.

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About us

The Financial Services Council (FSC) represents investment and life insurance companies in New Zealand.

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Contact us

Ph: +64 09 985 5762

Email: fsc@fsc.org.nz

Level 33, ANZ Centre,
23-29 Albert Street, Auckland 1010

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